At present,ECB use the reference value of M 3 growth rate,but not a target elasticity to meet the background of the intergrated monetary policy of 11 sovereign countries.

• 目前，欧洲央行用M3 参考值而不用固定指标监控使货币政策具有一定弹性，以适应11 个主权国统一货币政策的背景。